STRONGER DOLLAR SUPPLY LIFTS NAIRA AS RESERVES RISE

The naira recorded another weekly gain against the US dollar as improved foreign exchange supply and stronger market liquidity eased pressure on the currency.

The naira closed at ₦1,346.49 per dollar in the official market, gaining ₦11.11 over five trading days, representing a 0.83 per cent appreciation from the previous week. The parallel market also recorded a marginal improvement, closing at about ₦1,400.61 per dollar.

Foreign investors, exporters, and non-bank corporates were among the sources of dollar liquidity supporting trading during the period.

At the same time, Nigeria’s gross external reserves rose by 0.65 per cent to $52.657 billion, strengthening the country’s external liquidity position.

Market participants said the combination of stronger reserves and improved FX supply could support further naira stability in the coming weeks.

Some analysts are projecting an exchange rate of around ₦1,350 per dollar by the end of 2026, reflecting growing confidence in the currency’s outlook.

However, rising global crude prices and geopolitical tensions could still introduce volatility, making sustained FX liquidity and reserve accumulation important for maintaining the naira’s recent gains.